Tips for Financing Your New Trailer

Trailer financing is extremely common, and a majority of buyers actually prefer to finance their models rather than spend months saving up to pay out of pocket. However, if you’re not careful, you can easily end up with some pretty abysmal offers that will have you paying more than you should. To ensure you get the best loan available, we encourage you to read through our helpful financing tips below! 

Raise Your Credit 

Before you start submitting applications, we strongly advise taking a month or two to try and raise your credit score. The better your credit is, the better your interest rates and term lengths will be. Thankfully, raising your credit shouldn’t be too difficult. Just remember to pay off credit cards on time, try to remove old debts from your record, and avoid falling behind on any of your monthly expenses. 

Secured vs Unsecured Loans 

When you’re reviewing your various loan offers, you’ll need to pay close attention to 3 important details: the loan type, your interest rates, and the length of the term. While everyone will want to choose a loan with the lowest rates and shortest term, not everyone will agree on which type of loan is best. Some people will prefer unsecured loans, as they don't want to risk repossession after too many missed payments. However, others may prefer the low APR and short-term lengths of a secured loan, even if it requires putting up their trailer as collateral. In the end, it’s up to you to decide which type of loan is best suited for your needs.

If you’re located nearby in Campbell, California, and still on the hunt for a new trailer to call your own, we hope you’ll visit us here at FJM Truck & Trailer Center. Our location here in San Jose, California offers an amazing inventory of new and used trailers for sale, as well as helpful financing services, and rental options!